512 S 12th St - Freestanding FOR SALE


Murray, KY 42071
$425,000 USD
270-839-3136
512 S 12th St, Murray, KY for Sale
$425,000 USD
Freestanding - FOR SALE
1/12
null | 8.09% Cap Rate

512 S 12th St
Murray, KY 42071


HIGHLIGHTS

  • Property located in prime high traffic location with 136' of road frontage.

OVERVIEW

Excellent Investment Opportunity to Own Commercial Property in a Prime Location on Murray's South Side. Located in a High Traffic Area of the City and Surrounded by Numerous Other Commercial Businesses Including Retail, Lodging & Restaurants. In Addition to Current Tenant Occupied Space (Through 1/1/29) the Property Also Includes a 2-bay Garage Located on the South Side of the Structure Currently Used for Storage by Seller and an Additional Single-Bay Garage with Storage Room. The 2-Bay Garage is Currently Being Cleared Out to Place Another Tenant and Bring an Additional $400 per Month. The Single-Bay Garage and Storage Room Could Add an Additional $200 Per Month. Current tenant rents 9000/sqft of space. New Roof Installed in 2021. Three-phase Electric Power Available. Shared Drive Easement with Neighboring Carwash. **UPDATE** Current tenant has entered into a new 3-year (gross lease) term at $3,700/month. With additional rental income possible for 2-bay storage garage of $400/month, this property could offer an 9.22% CAP Rate. Adding a tenant at $200/month to the single-bay garage/storage room would increase CAP Rate to 9.78%.

FOR SALE DETAILS

PRICE

$425,000 USD

PRICE/SF

$35 USD /SF

CAP RATE

8.09%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1950

SPRINKLERS

-

PARKING SPACES

16

LAND DETAILS

LAND ACRES

0.63 AC

LAND SF

27,617 SF

ZONING

B-2

APN/PARCEL ID

005-0-0019-00003

ASK ABOUT THIS PROPERTY

Brian SettleAtlas Real Estate & Auction ServicesMore Info
270-839-3136

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Brian SettleAtlas Real Estate & Auction ServicesMore Info
270-839-3136

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.